BitMEX Plans to Add Spot Trading, Brokerage, Custody Services: Report

BitMEX Plans to Add Spot Trading, Brokerage, Custody Services: Report

Embattled cryptocurrency exchange BitMEX’s new CEO said the firm is planning to add spot trading, brokerage, and custody services to its offerings.

  • Alexander Hoptner, who joined the exchange in December, said Thursday he is planning on transforming the exchange and expanding business operations by adding three news services, according to a Bloomberg report.
  • Prior to joining the firm, Hoptner worked for the German exchange Börse Stuttgart. In his new role, he plans to transform the crypto firm by amending relationships with regulators and expanding business operations from spot trading to brokerage and custody services.
  • “I was coming from the regulated and classical world. I have a lot of touchpoints with the regulators already…Now I’m working on the crypto side and bringing the crypto side to the regulated world,” said Hoptner.
  • BitMEX announced Thursday the appointment of auditing veteran Stephan Lutz as its new chief financial officer who will take charge of financial growth, business expansion, and profitability.
  • In October 2020, the U.S. Commodity Futures Trading Commission and federal prosecutors charged BitMEX with facilitating unregistered trading and other violations.
  • As reported by CoinDesk Wednesday, BitMEX founder and former CEO Arthur Hayes, who is currently in Singapore, could surrender to U.S. authorities next month.
  • Hoptner declined to comment on the criminal charges against the BitMEX co-founders, said the publication.
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